… as Hippo, mid-tier stocks lift ZSE
HARARE – Another negotiated deal in RioZim saw Zimbabwe Stock Exchange turnover close higher at $251.31 million (or US$3.07 million).
A total of 7.5 million shares amounting to 6.14% of RioZim changed hands in a special deal executed at 1465.23c and worth $109.89 million. The deal was done at a premium of 30.8% as the buyer paid 1465.23c which is 345.23c above the 1120.00c market price which remained unchanged. Last week Old Mutual exited the group after disposing of its nearly 23% holding. This is amid unconfirmed reports that the major shareholders Gem RioZim Investments are contemplating delisting.
Other significant contributors to total turnover came from CBZ at $55.89 million and Econet at $50 million after 6.8 million shares traded. There were 278 trades in total with Delta the most active at 29.
Foreigners were net sellers at $12.51 million against buyers at $951 140.
On the wider market, the All-Share Index was 1.25% higher to 2 072.28 with a year-to-date gain of 800.64%. Recovery stock, Hippo led the risers gaining 18.58% to 6 000c. It is now the fourth best performing counter on the ZSE with a 2976.92% YTD return. Delta gained 4.467% to 2 407.33c and Econet was up 4.44% to 734.41c. These gains left the Top 10 Index 0.67% higher to 1 336.18. There were losses in CBZ, Innscor and Padenga. CBZ pared 1.40% to 5 438.96c and Innscor shed 1.03% to 3 317.04c.
Mid-caps were the best performing with the Index putting on 2.40% to 4 171.48. Mashonaland Holdings which are seeking to consolidate its property portfolio in 2021 and to move its focus away from the CBD, was up 14.79% to 89.50c, Dairibord which is still to finalise its merger deal with Dendairy gained 9.76% to 900.00c and Axia added 8.78% to 555.74c.
Ariston was the day’s worst performer losing 8.96% to 120.17c. Powerspeed, which is set to delist this Friday was down 7.22% to 180c and Willdale pared 6.49% to 26.53c. The losses saw the Small Cap Index shed 0.64% to 10 184.72.
Meikles, which is undergoing its second phase restructuring, was 6.33% lower to 1784.35c. The group has a project pipeline worth $2 billion, which has so far been invested sprucing up properties.-Financial Express
|Risers||Price||% Change||Fallers||Price||% Change|
|Axia||555.74c||+8.78 %▲||Meikles||1784.35c||-6.33 %▼|